Trump ends China’s monopoly on rare earths as Pentagon rapidly pushes for domestic mining and processing, invoking 1950 Defense Production Act:
http://dailytorch.com/2019/08/trump-ends-chinas-monopoly-on-rare-earths-as-pentagon-rapidly-pushes-for-domestic-mining-and-processing-invoking-1950-defense-production-act/

In a strong boost for the U.S. position in ongoing trade negotiations with China, it looks like Beijing’s monopoly on rare earth minerals used in smart phones, computers and high-tech military hardware is coming to an end as the U.S. Defense Department makes a big push for domestic processing of the sought-after materials. Just one less thing Beijing can hold over U.S. trade negotiators’ heads, and surely strengthens the U.S. position in those talks. China had placed a tariff on rare earths that were being shipped there for processing, but Beijing was never going to permanently be allowed to have a monopoly on elements essential to national security. Unlike his predecessors Bush and Obama, the American people can thank President Trump for that. What do you think?

Love President Trump or hate him, everyone including President Xi should be rooting for his China trade deal:
http://dailytorch.com/2019/08/love-president-trump-or-hate-him-everyone-including-president-xi-should-be-rooting-for-his-china-trade-deal/

If you’re a Republican or a Democrat or an independent, whether you like free trade or think it has hurt the U.S. economy the past three decades, if you’re in business with China or from China yourself, even Chinese President Xi Jinping, you should be rooting for President Donald Trump to succeed in his trade negotiations with Beijing. Ultimately, a deal with China will set the stage for the rest of the century and determine whether we can find a way to resolve our very real differences on competitive currency devaluations that Beijing uses to boost exports, intellectual property theft and forced technology transfer, and sanctions against U.S. exporters, or if we are on a collision course for conflict. One need look no further than to the threat the 7.3 million people of Hong Kong or 23.6 million people of Taiwan constantly live under, or the continued nuclear threat from North Korea, to comprehend the threat that running a $380 billion trade deficit poses — more than twice China’s annual $152 billion defense budget. What’s better, trade or a war?

Up or down, President Trump owns the economy—and he has a lot to be proud of:
http://dailytorch.com/2019/08/up-or-down-president-trump-owns-the-economy-and-he-has-a-lot-to-be-proud-of/

Compared to this point in Obama’s first term, the Trump economy is great. 2018 was the strongest year for growth since 2005, and unemployment at 3.7 percent is still at its lowest point in 50 years since 1969. Obama got reelected with 7.8 percent unemployment in the final reading before the 2012 election. Almost 5.2 million jobs have been created since Jan. 2017 when President Donald Trump took office in the Bureau of Labor Statistics’ household survey. That blows the Obama out of the water. At this point in his first term, the Obama economy had not produced a single job. How do you think the economy has fared since 2016?

Why we should be worried about Alan Greenspan’s negative interest rate prediction. It might mean the end of capitalism.
http://dailytorch.com/2019/08/why-we-should-be-worried-about-alan-greenspans-negative-interest-rate-prediction-it-might-mean-the-end-of-capitalism/

While the financial and political media were panicking about the 10-year, 2-year treasuries interest rate inversion, former Federal Reserve Chairman Alan Greenspan was predicting that U.S. treasuries’ interest rates could very well go into negative territory in the near-future. If interest rates are going negative, it could very well be forecasting slower economic growth or no growth at all, low inflation or even negative inflation, and higher unemployment. The federal government would earn interest instead of owing it for deficit-spending. Individuals would be incentivized to stop working and take on debt to earn interest. It would be helicopter money. Where would this lead our society?

Democratic candidates’ hateful labeling of President Trump and his supporters as white supremacists is wrong, dehumanizing and dangerous:
http://dailytorch.com/2019/08/democratic-candidates-hateful-labeling-of-president-trump-and-his-supporters-as-white-supremacists-is-wrong-dehumanizing-and-dangerous/

Leading Democrats for the presidential nomination have apparently decided that their path to victory in the wake of the El Paso and Dayton mass shootings lays with demonizing President Donald Trump and his supporters as white supremacists and racists. They’re just saying it aloud now. One hopes this is just a cynical ploy to boost their poll numbers as the New Hampshire primary and the Iowa caucuses near, but it is hard not to start to worry that this is the radicalization of a mob that is thirsty for mob justice. Doesn’t anyone think this is way over the top? Or worried that this sort of dehumanizing rhetoric has dangerous implications for the future of this country? Or could be construed as another incitement to and legitimization of political violence? This is beyond irresponsible, it is reckless and dangerous. What do you think?

Deficit likely to come in just shy of $1 trillion in 2019, latest Treasury figures show:
http://dailytorch.com/2019/08/deficit-likely-to-come-in-just-shy-of-1-trillion-in-2019-latest-treasury-figures-show/

With just two months remaining in fiscal year 2019, come Sept. 30, the U.S. budget deficit appears likely to come in just shy of $1 trillion, the latest data from the U.S. Treasury shows. Since 1980, the debt has grown on average 8.8 percent every fiscal year, but during that same period, the U.S. economy has only averaged 5.4 percent nominal growth economic nominally before adjusting for inflation. As a result, the debt is now 105 percent of the economy. And if those trends were to continue, the debt will top $100 trillion in 2037, and exceed 193 percent debt to GDP. What does that look like? Just ask Japan, with a 200 percent debt to GDP ratio, whose economy has barely grown nominally in 20 years amid a declining population. What can be done to prevent such an outcome?

Trade in goods deficit with China down 10 percent first half of 2019, or $18.8 billion:
http://dailytorch.com/2019/08/trade-in-goods-deficit-with-china-down-10-percent-first-half-of-2019-or-18-8-billion/

The U.S. trade in goods deficit with China is down 10 percent in the first six months of 2019, or $18.8 billion, compared to 2018, according to the latest data from the U.S. Census Bureau. And that’s with the first tranche of tariffs by President Donald Trump that was in place until May. Then, Trump raised the tariff to 25 percent for the $250 billion of goods and in July he added another 10 percent tariff on the remaining $300 billion of goods. If it hurts bad enough, it might be able to force China to the table, but with China’s devaluation of the yuan, the Fed has to get the dollar right and not let it get too strong or it could undermine everything the administration is hoping to achieve. What do you think?

Want to stop China from manipulating the yuan and the dollar? Bar it from buying treasuries, Mr. President:
http://dailytorch.com/2019/08/want-to-stop-china-from-manipulating-the-yuan-and-the-dollar-bar-it-from-buying-treasuries-mr-president/

Now that the U.S. Treasury has labeled China a currency manipulator, President Donald Trump should consider barring it from purchasing any more treasuries as a penalty. After all, China needs to keep buying treasuries to exert its trade advantage and keep the yuan weak to boost its exports. Without treasuries to fall back on, the yuan could appreciate vis a vis the dollar, even with the fixed exchange rate. That would give the tariffs, now 25 percent on $250 billion of Chinese goods, and 10 percent on the rest of the $300 billion of them, some real teeth. It would also create a very real penalty for currency manipulation, and serve as a deterrent to other countries that want to play games with the dollar. What do you think?

China proves it manipulates currency with immediate yuan devaluation upon new 10 percent tariff on $300 billion of goods, rate cuts, Treasury acts with official designation:
http://dailytorch.com/2019/08/china-proves-it-manipulates-currency-with-immediate-yuan-devaluation-upon-new-10-percent-tariff-on-300-billion-of-goods-rate-cuts-treasury-acts-with-official-designation/

Immediately upon President Donald Trump’s announcement of a new 10 percent tariff on $300 billion of goods shipped to the U.S. that came atop the 25 percent on $250 billion of goods, coupled with the Federal Reserve cutting interest rates, China has responded in kind with another devaluation of the yuan by another 2.6 percent. This comes atop the devaluation in May in response to the initial imposition by Trump of 25 percent tariffs on the first tranche of $250 billion of goods shipped to the U.S. Now, with the most recent move, the total devaluation rises to 4.8 percent since May. That is absolutely currency manipulation. Trump was right about Beijing. What do you think?

Massacres in El Paso, Dayton underscore that political violence right or left is never the answer:
http://dailytorch.com/2019/08/massacres-in-el-paso-dayton-underscore-that-political-violence-right-or-left-is-never-the-answer/

After a bloody weekend that saw 29 killed in mass shootings in El Paso, Texas and Dayton, Ohio, the nation must once again face and confront the scourge of political violence and terrorism that is becoming increasingly prevalent in our society on the extreme ends of the political spectrum, right and left. An anti-immigrant manifesto that has been linked to the shooter in El Paso who supported President Donald Trump and praised the Christchurch mosque shooting in New Zealand and the racist manifesto the shooter left behind there. The Dayton shooter on the other hand was a self-proclaimed leftist and Satanist who supported Sen. Elizabeth Warren who had previously spoke against mass shootings such as Parkland, and who on the anniversary of violence in Charlottlesville, Va. wrote, “Kill every fascist” and called the ICE firebomber a “martyr.” The violence and the varied motivations for it demonstrate that violence is never the answer, and whether it comes from the right or left, we must stand united against it as a nation — before it is too late. Will you stand with us against these despicable acts?